Wednesday, October 27, 2010

Is the FTC Coming After Google?


Is the FTC Coming After Tom Smith and His Incredible Bread Machine Google?
October 26, 2010 by Art Carden

Perhaps (HT: Radley Balko). I've blogged about this before; I find that a quick scan of the history of American capitalism reveals a lot of claims of monopoly to be of dubious merit, and indeed it strikes me as the height of insanity to say that Google's "disruptive" pricing potential–i.e., giving stuff away for $0–is somehow inconsistent with the goals of regulation, if those goals are indeed to equate price and marginal cost. But perhaps I'm being naive as we haven't yet covered rent-seeking in Econ 100.

It's a good time to read the classic poem on " Tom Smith and His Incredible Bread Machine." Here's the film from the 1970s. I fear that life is going to imitate art here.

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